{
    "success": true,
    "data": {
        "id": 2020880,
        "msgid": "cooperative-minister-cooperative-bill-will-establish-supervisory-authority-1791212386",
        "date": "2026-10-05 21:27:31",
        "title": "Cooperative Minister: Cooperative Bill will establish supervisory authority",
        "author": "",
        "source": "ANTARA_ID",
        "tags": "",
        "topic": "Regulation",
        "summary": "The Minister of Cooperatives, Ferry Juliantono, has announced plans to establish a dedicated supervisory authority for cooperatives under the new Cooperative Bill. The initiative aims to provide independent oversight and implement deposit protection through the LPS to enhance the competitiveness of cooperatives against the banking sector.",
        "content": "<p>The Minister of Cooperatives, Ferry Juliantono, stated that the\ngovernment will establish a dedicated cooperative supervisory authority\nthrough the Draft Law (RUU) on Cooperatives, which is currently being\ndiscussed with the House of Representatives (DPR RI).<\/p>\n<p>During a public discussion for the Pre-National Congress of Syarikat\nIslam in Jakarta on Monday, Ferry explained that such an authority is\nnecessary so that cooperatives possess their own supervisory body rather\nthan being integrated into the Financial Services Authority (OJK)\noversight mechanism.<\/p>\n<p>\u201cGod willing, in the new Cooperative Law, there will be a cooperative\nsupervisory authority because we do not want to fall under the OJK; we\nwill have our own authority,\u201d said Ferry.<\/p>\n<p>In addition to supervision, the government is also preparing\nprotections for public deposits within savings and loan\ncooperatives.<\/p>\n<p>Ferry noted that he has met with the Chairman of the Indonesia\nDeposit Insurance Corporation (LPS), Anggity Abimanyu, and they have\nagreed on a plan to protect public deposits in cooperatives through the\nLPS.<\/p>\n<p>According to him, deposit protection is essential because, to date,\ncooperatives have lacked an independent supervisory authority, and\npublic deposits in cooperatives have not received the same level of\nprotection as bank deposits.<\/p>\n<p>\u201cWe are struggling to compete with the banking sector. Therefore, God\nwilling, in the new Cooperative Law, there will be a cooperative\nsupervisory authority, and we want a deposit insurance institution that\ncan protect public deposits held within cooperatives,\u201d Ferry added.<\/p>\n<p>Ferry believes that strengthening supervision and deposit protection\nwill increase the competitiveness of cooperatives against banks.<\/p>\n<p>The Cooperative Bill is targeted for enactment into law this year to\nreplace Law Number 25 of 1992 concerning Cooperatives. Ferry remarked\nthat the current regulations are no longer adequate to serve as a\nfoundation for the development of cooperatives in Indonesia.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/cooperative-minister-cooperative-bill-will-establish-supervisory-authority-1791212386",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}